May 24, 2024 12:52 am
Steward Health Care to Appear at Massachusetts State House Hearing on Monday – NBC Boston

In Massachusetts, lawmakers are currently holding a hearing to discuss the impact of private equity ownership in healthcare. This hearing comes at a time when Steward Health Care, which owns nine hospitals in the state, is facing a financial crisis. State Senator Campbell has called for more transparency from Steward Health Care as they consider withdrawing from the state, which would impact access to healthcare for hundreds of thousands of people.

Governor Maura Healey has also criticized Steward Health Care’s management for their current situation. On Monday, lawmakers listened to a top government watchdog who warned about the implications of industry consolidation, for-profit ownership, and private equity investment in healthcare. The Health Policy Commission Executive Director, David Seltz, shared data showing that the percentage of transactions involving private equity in Massachusetts has more than doubled in recent years.

This trend has raised concerns among lawmakers and healthcare officials about the need for urgent action to address these issues. There is now growing focus on the impact of private equity ownership and industry consolidation on the healthcare system not only in Massachusetts but across the country. The recent crisis at Steward Health Care has brought these concerns to light and prompted calls for reform. It is crucial that we act quickly to ensure continued accessibility and affordability of healthcare services for all citizens.

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